Afternoon Coffee: FAA Predicts Millions More Drones in the Sky by 2020, Consumer Spending Barely Increases in February

Tomasz Zajda/Adobe Stock

The U.S. Federal Aviation Administration estimates 7 million drones will be in use by 2020, becoming the most “dynamic growth sector within aviation.” By the end of 2016, an estimated 2.5 million drones will be flying in the skies, according to the FAA.

U.S. consumer spending rose slightly by 0.1% in February. It was the third month in a row spending grew just 0.1%, showing consumers are saving more of their incomes.

The CEO of Valeant Pharmaceuticals International Inc will testify at a Senate Special committee hearing on April 27. The Canadian company is being investigated for its drug pricing and distribution models as well as its accounting and disclosure measures.

A recent analysis in Harvard Business Review of the current oil market is calling lower oil prices the “new normal” — it’s not a “oil bust” that will be followed by a boom, the article stated. Instead, lower oil prices are likely here to stay and will have global impacts.

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